Resource Misallocation Among Listed Firms in China: The Evolving Role of State-Owned Enterprises

نویسندگان

چکیده

We document that publicly listed Chinese state-owned enterprises (SOEs) are less productive and profitable than firms in which the state has no ownership stake. In particular, SOEs more capital intensive have a lower average product of non-SOEs. These productivity differences increased between 2002 2009, remain sizeable 2019. Using heterogeneous firm model resource misallocation, we find there large potential gains from reforms could equalize marginal products

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ژورنال

عنوان ژورنال: IMF Working Papers

سال: 2021

ISSN: ['1018-5941', '2227-8885']

DOI: https://doi.org/10.5089/9781513571928.001